Little Italy (Spilsby) Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 04449204 (England and Wales)

LITTLE ITALY (SPILSBY) LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2017

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

S Alayej

SECRETARY:

Mrs C R Simpson

REGISTERED OFFICE:

12 Market Place

Splilsby

Lincolnshire

PE23 5JT

REGISTERED NUMBER:

04449204 (England and Wales)

ACCOUNTANTS:

Peach & Co

a Trading name of

Dexter & Sharpe Consultancy Ltd

26 Ida Road

Skegness

Lincolnshire

PE25 2AR

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

2,306

3,075

2,306

3,075

CURRENT ASSETS

Stocks

3,450

3,097

Debtors

6

48,216

48,214

Cash in hand

8,376

7,095

60,042

58,406

CREDITORS

Amounts falling due within one year

16,457

17,376

NET CURRENT ASSETS

43,585

41,030

TOTAL ASSETS LESS CURRENT LIABILITIES

45,891

44,105

CREDITORS

Amounts falling due after more than one year

42,605

37,635

NET ASSETS

3,286

6,470

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

2,286

5,470

SHAREHOLDERS' FUNDS

3,286

6,470

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 August 2017 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 25 May 2018 and were signed by:

S Alayej - Director

1.	STATUTORY INFORMATION

Little Italy (Spilsby) Limited is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added

tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2002, is being amortised evenly over its estimated useful life of five years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any

accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving

items.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are

charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 September 2016

and 31 August 2017

15,000

AMORTISATION

At 1 September 2016

and 31 August 2017

15,000

NET BOOK VALUE

At 31 August 2017

-

At 31 August 2016

-

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 September 2016

and 31 August 2017

20,364

DEPRECIATION

At 1 September 2016

17,289

Charge for year

769

At 31 August 2017

18,058

NET BOOK VALUE

At 31 August 2017

2,306

At 31 August 2016

3,075

6.

DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Other debtors

38,479

38,479